NASHVILLE, Tenn. (WKRN) – With limited space and high demand for new apartments, developers are shifting their focus up– meaning, taller buildings for Music City.
From 2010-2018, 42% of buildings in Nashville were low rise. Forty-nine percent were mid-rise and nine percent were high-rise.
In the 2000s, 11% of apartment buildings were mid-rise and 89% were low-rise, with the high-rises being dismissed entirely during that time.
Low-rise buildings are defined as buildings with 4 floors or under.
Mid-rise buildings are defined as buildings that have between 5 to 12 floors.
High-rise buildings are defined as buildings that have 13 floors or above.
Thirty years ago, in the ’90s, the average apartment building in Nashville had four floors, the following two decades the average height was around six stories.
Nashville ranks 13th nationally, based on the percentage of high-rise apartment construction between 2010 and 2018.
Here are some of this month’s highlights for Nashville apartments according to Apartmentlist.com
Nashville rent is up 2.9 percent over the past year, the seventh-fastest growth rate among the nation’s large cities.
Since 2014, rents in Nashville have grown by 18.6%, outpacing the national average of 11.3%.
The median rent for a 2BR apartment in Nashville is currently $1,161 compared to the national average of $1,191.
The Greater Nashville Apartment Association shows the numbers a little differently, showing the average rent sitting just over $1,200 and the average occupancy at 94 percent.
According to data from GNAA more than 13,000 apartment units are being built with 16,000 potential starts on the way.